Blockchain is a leading technology that has the potential to revolutionise how transactions over the internet take place altogether. The technology uses cryptography to keep exchanges secure.
This network is essentially a chain of computers that must approve an exchange before it can be verified and recorded. It also provides a decentralised database or “digital ledger” of transactions that everyone on the network can see.
Poised to grow exponentially soon, Blockchain has been backed by a number of Silicon Valley technology gurus as well as some of the biggest corporation in the world.
Its influence on the African continent is also growing. There has been an increase in the number of blockchain companies on the continent as a result.
Here are 5 African Blockchain companies to watch:
Bitland allows individuals and organisations to survey land and record deeds. It aims to build infrastructure in developing countries to potentially unlock billions of dollars in untapped property rights.
Custos Media Technologies (South Africa)
This blockchain company allows content owners to distribute, manage and protect sensitive media. One of top 5 African Blockchain companies to watch, it gives a new level of protection to the owners of any project. It seeks to help the entertainment industry tackle piracy.
Bankymonn (South Africa)
This blockchain company provides bitcoin payment gateways to smart metering vendors, allowing vendors to accept bitcoin payments for utilities. As one of the fastest growing African Blockchain companies, Bankymonn cuts out the need for intermediaries.
This company is focused on building a universal education system that is distributed through web technologies.
The Sun Exchange (South Africa)
The Sun Exchange is a marketplace where people can purchase solar cells and have them power commercial and community solar plants.